Tag Archives: Agents E&O

How well do your clients understand their insurance program?

If your answer is “I don’t know, I never asked them”, you are potentially missing a very key element in the sales process. In the commercial world, most clients probably understand their respective business and the various components necessary to … Continue reading

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One of the biggest misconceptions on E&O limits

Recently, I saw the results of an E&O survey conducted by Insurance Journal with one of the questions focusing on the E&O limit that agencies bought. Roughly half (49.4% to be exact) had E&O limits of $2million or less. If … Continue reading

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Are you making notes on your proposals?

Typically, when producers review the proposal with the prospect / client, as the discussion evolves, and decisions are made, the producer will make notes on the proposal. The notes could involve requests for additional information, coverages accepted / rejected, etc. … Continue reading

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Are you checking your Personal Lines Downloads?

It seems that over the years, as automation has kicked in to a much higher degree, agencies have developed a corresponding higher level of trust on the quality of the work product from their carriers. It is almost like “it’s … Continue reading

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What is your 2018 E&O goal?

Virtually every agency establishes goals and objectives they plan to accomplish with most of those goals probably dealing more with premium volume, new business, income and expenses. While the establishment of these goals is important, serious consideration should be given … Continue reading

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Those crazy Certificates of Insurance

Where would you think the “improper execution of certificates” ranks among the leading causes of E&O claims? After all, it is just a piece of paper that clearly states the certificate is issued as a matter of information only and … Continue reading

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Hey Producers – how good is your note taking?

In virtually every agency, producers / sales staff play an integral role in the current and future success of the business. Producers are typically responsible for new business sales and retention of accounts, especially the medium to large accounts. In … Continue reading

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What if your client does not want their policies?

I have heard this question asked numerous times over the last year. The client’s policies are received and reviewed by your agency and when you contact the client to arrange a time to drop them off, they advise you that … Continue reading

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Are you aware of the legal standard you will be held to?

In Agents E&O, the basic premise in determining “fault” is built on negligence. In other words, the agency would need to be found negligent in performing their duties. Over the years, the various court decisions have largely shaped this doctrine … Continue reading

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Celebrate !

When the subject of auditing comes up, some people frown and are probably thinking “why don’t they trust us?”. Auditing is actually a very healthy initiative towards achieving a greater level of E&O compliance. In addition, the staff that are … Continue reading

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